Infosys reports net profit of Rs 3606 crores for quarter 2, beats estimates by 3%

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Infosys Ltd, country’s second-biggest software services exporter, said on Friday its second-quarter net profit rose 6.1 percent, beating market expectations as it racked up new business client wins.

Consolidated net profit was Rs 3606 crores for the fiscal second quarter ended September 30, up from Rs 3398 crores a year earlier, the company said in a statement.

Analysts had, on average, expected a net profit of Rs 3526 crores, according to Thomson Reuters I/B/E/S.

A report earlier in October had estimated Infosys to see revenue growth at 3 per cent. The report, which cast doubts on big earnings for quarter two due to broad based slowdown in BFSI and healthcare as well as delays in projects across many clients, had projected that Infosys will lead the pack given it is gaining share in large deals and wallets of large clients, and is well positioned to capture discretionary spends.